Prox777
Infrastructure Monitoring Expert
2
MONTHS
2 2 MONTHS OF SERVICE
LEVEL 1
400 XP
Yesterday, after logging into my 2 year old Coinbase account that only had one small transaction on it from the time I've created the account, I wanted to start buying again. First, I attempted to add my Debit Card to my account. I was prompted with a message saying I needed to complete verification, no problem. I go to my wallet to take front and back picture of my Drivers License and upload them to the site. Afterwards, I was told verification time could vary, and to check my email for a status. In the meantime, I figured I'd just add my bank account since I would like to purchase with the lowest fees possible. So I go to do this, signing into my bank through their portal, and after submitting the security question to my account, I was shown how much was in my checking account. Not even 10 seconds after completion of adding it, I saw in bold letters on the page that my account was "restricted". Now keep in mind that I have never done shady activity with my Coinbase account, my IP address is not blacklisted, and I was not attempting to purchase coins illegally.
A few minutes later I get an email notification with the subject "NOTICE OF ACCOUNT CLOSURE" and it reads:
"Hello,
Thank you for your interest in Coinbase. Our primary goal is to make digital currency safe and secure for our customers. Coinbase is a regulated Money Services Business under FinCEN (FinCEN.gov), and as part of achieving this goal, we are legally obligated to implement regulatory compliance mechanisms.
Upon careful review, we believe your account has engaged in prohibited use in violation of our Terms of Service and we regret to inform you that we can no longer provide you with access to our service. We respectfully request that you follow the on-screen instructions presented when you log into your Coinbase account to send any remaining balance offsite to an external address.
Should you have any questions or need assistance, please let us know and we'll be happy to help.
Respectfully,
Coinbase Customer Support"
Now why the hell did this happen? I emailed support right away and basically they told me there was nothing they could do.
What a great, short-lived experience with Coinbase!
A few minutes later I get an email notification with the subject "NOTICE OF ACCOUNT CLOSURE" and it reads:
"Hello,
Thank you for your interest in Coinbase. Our primary goal is to make digital currency safe and secure for our customers. Coinbase is a regulated Money Services Business under FinCEN (FinCEN.gov), and as part of achieving this goal, we are legally obligated to implement regulatory compliance mechanisms.
Upon careful review, we believe your account has engaged in prohibited use in violation of our Terms of Service and we regret to inform you that we can no longer provide you with access to our service. We respectfully request that you follow the on-screen instructions presented when you log into your Coinbase account to send any remaining balance offsite to an external address.
Should you have any questions or need assistance, please let us know and we'll be happy to help.
Respectfully,
Coinbase Customer Support"
Now why the hell did this happen? I emailed support right away and basically they told me there was nothing they could do.
What a great, short-lived experience with Coinbase!